The Federal Government has announced that the supply of petrol from the Dangote Refinery will begin tomorrow, following an agreement on pricing and supply.
Chairman of the Federal Inland Revenue Service and a member of the Presidential Committee on the Sale of Crude Oil and Refined Products, Zacch Adedeji, announced in Abuja on Friday.
He confirmed that the first batch of petrol from the Dangote Refinery will be loaded on Sunday, September 15.
Under the new agreement, the Nigerian National Petroleum Company Limited (NNPCL) will remain the sole off-taker of petrol from the Dangote Refinery, while other marketers will purchase their supplies from NNPCL.
Starting from October 1, NNPCL will supply 385,000 barrels of crude oil per day to the refinery, which will be paid for in Naira.
In return, the Dangote Refinery will supply petrol and diesel of equivalent value to the domestic market, also to be paid for in Naira. While petrol (PMS) will only be sold to NNPCL, diesel will be available for sale in Naira to any interested buyer.
This arrangement is expected to ease the current petrol shortages across the country, while allowing the government to continue subsidizing the product.
